00:01the u.s central bank has raised its benchmark interest rate by a quarter point to a range of
00:083.75 percent to four percent its first increase since july 2023 the goal to make borrowing more
00:17expensive which usually slows spending and helps bring inflation down in a unanimous 12 to nil
00:25vote that put chair kevin walsh directly at odds with u.s president donald trump who appointed him
00:32trump reportedly expected walsh to eventually lower rates the market reaction to the decision
00:38has been fairly muted likely due to the fact that the hike was widely expected the fed's communication
00:45was as striking as its decision the statement ran to three short paragraphs a fraction of the length
00:51markets are used to with no forward guidance and no hedging one sentence even reads the committee
00:58will deliver price stability not seeks to not is committed to but will the fed is signaling that
01:05interest rates may stay high or even go higher because inflation is still a problem as uncertainty
01:12remains elevated the fed said owing partly to geopolitical developments its terms for the war
01:19walsh at any wrong
01:19walsh at any problem as uh...
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